Is Crypto Legal in Taiwan?

Cryptocurrencies are not recognized as legal tender in Taiwan and cannot be used as currency in the market. The Central Bank of the Republic of China (Taiwan) classifies bitcoin and similar virtual assets as speculative digital commodities rather than true currencies, prohibiting financial and payment institutions from handling bitcoin-related business (1).

Despite not being legal tender, cryptocurrency trading is permitted under Taiwan’s anti-money laundering (AML) framework. Taiwan amended its AML laws in November 2018 to bring virtual currency platforms and trading services within regulatory scope, and the Financial Supervisory Commission (FSC) has issued detailed AML and counter-terrorism financing regulations for these entities (2).

"Taiwan amended its Anti-Money Laundering Act in November 2018 to include virtual currency platforms and trading services under its regulatory scope; the FSC issued the Anti-Money Laundering and Counter-Terrorism Financing Regulations for Virtual Currency Platforms and Trading Service Providers on June 30, which came into effect on July 1." (2)

Going forward, the FSC is preparing a new Virtual Asset Service Act to establish licensing, consumer protection, and operational standards for Virtual Asset Service Providers (VASPs). Under this draft act, VASPs must obtain FSC approval, meet capital requirements, implement robust internal controls, and segregate customer assets, ensuring a more transparent and secure trading environment.

Source:
https://www.cbc.gov.tw/public/Attachment/3123016334171.pdf
https://www.cbc.gov.tw/dl-179887-edb16a1187d14b2399287db337ca7c84.html

Last updated: 16-05-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.